Moran Wealth Management LLC Has $21.14 Million Position in Cisco Systems, Inc. $CSCO

Key Points

• Moran Wealth Management trimmed its Cisco stake by 6.2%, selling 18,001 shares to hold 274,480 shares valued at about $21.14 million per its latest 13F filing.
• Cisco beat quarterly expectations, reporting $1.04 EPS vs. $1.02 expected and $15.35B revenue (up 9.7% YoY), and raised its quarterly dividend to $0.42 (annualized $1.68, ~1.9% yield).
• Market sentiment is mildly positive with a consensus rating of "Moderate Buy" and an average price target of $89.81, and institutions own roughly 73.3% of the stock.

Moran Wealth Management LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 274,480 shares of the network equipment provider's stock after selling 18,001 shares during the period. Moran Wealth Management LLC's holdings in Cisco Systems were worth $21,143,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Invesco Ltd. lifted its position in Cisco Systems by 10.5% during the 3rd quarter. Invesco Ltd. now owns 53,612,720 shares of the network equipment provider's stock worth $3,668,182,000 after acquiring an additional 5,081,469 shares during the last quarter. Northern Trust Corp grew its position in shares of Cisco Systems by 3.5% in the third quarter. Northern Trust Corp now owns 48,498,612 shares of the network equipment provider's stock valued at $3,318,275,000 after purchasing an additional 1,631,703 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Cisco Systems by 4.4% in the third quarter. Franklin Resources Inc. now owns 42,641,483 shares of the network equipment provider's stock worth $2,917,530,000 after purchasing an additional 1,804,625 shares during the period. Legal & General Group Plc increased its stake in shares of Cisco Systems by 7.2% in the third quarter. Legal & General Group Plc now owns 37,674,954 shares of the network equipment provider's stock worth $2,577,720,000 after purchasing an additional 2,535,716 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Cisco Systems by 19.5% during the 3rd quarter. Wellington Management Group LLP now owns 33,748,414 shares of the network equipment provider's stock worth $2,309,066,000 after purchasing an additional 5,498,375 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Up 2.1%

Shares of CSCO stock opened at $86.25 on Friday. The stock has a market cap of $340.68 billion, a P/E ratio of 30.26, a price-to-earnings-growth ratio of 3.19 and a beta of 0.83. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The stock has a fifty day moving average price of $79.86 and a 200 day moving average price of $76.67. Cisco Systems, Inc. has a one year low of $53.83 and a one year high of $88.18.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. The company had revenue of $15.35 billion during the quarter, compared to analysts' expectations of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The business's revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 EPS. Analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.9%. This is a boost from Cisco Systems's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems's dividend payout ratio (DPR) is currently 58.95%.

Insider Activity

In other news, EVP Oliver Tuszik sold 3,132 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $79.74, for a total value of $249,745.68. Following the completion of the transaction, the executive vice president directly owned 188,613 shares of the company's stock, valued at approximately $15,040,000.62. This represents a 1.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 2,179 shares of the business's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $77.74, for a total value of $169,395.46. Following the completion of the sale, the senior vice president directly owned 28,807 shares in the company, valued at approximately $2,239,456.18. This represents a 7.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 46,431 shares of company stock valued at $3,574,820. 0.01% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. HSBC raised their target price on Cisco Systems from $74.00 to $77.00 and gave the company a "hold" rating in a report on Friday, February 13th. Zacks Research cut Cisco Systems from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Erste Group Bank downgraded shares of Cisco Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Argus upgraded shares of Cisco Systems to a "strong-buy" rating in a research note on Friday, February 13th. Finally, CICC Research boosted their price objective on shares of Cisco Systems from $84.00 to $96.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $89.81.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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